Since taxes are one of those liabilities that are inevitable in the business world, you should know how to deal with the responsibilities that your taxes give you. No business should disregard this matter, that’s why every company has its own company accountant which will ensure that the taxes are well calculated and paid. One of the mistakes though that many companies make is the accumulated deferred tax liabilities that cause further problems as long as they don’t get paid for. But first things first, what is a deferred tax liability? Let’s see what this means.

Wikipedia defines deferred tax as an accounting concept (also known as future income taxes), meaning a future tax liability or asset, resulting from temporary differences or timing differences between the accounting value of assets and liabilities and their value for tax purposes. We’re talking about the liability here, not the asset, so we’ll also add the breakdown of the term. The words “deferred” describes something delayed, and again “tax liability” is having unpaid financial debt, thus deferred tax liability means unpaid debt that needs to be paid for in the future. Companies sometimes get tax liabilities from financial transactions that are not immediately charged to be paid for. This is what goes down the deferred tax list.

It is still a liability, that’s why it will still be paid for as it when the company pays taxes. Further delay in payment will result in piling up of the tax liabilities until it becomes a problem for the company. That’s why a major role of accountants is to make sure funds are available to pay all tax liabilities on strategically on the same year it was made, rather than pushing it up to the next financial year. One can never be sure of financial stability in the future, that’s why to ensure less burden for the next tax year, there must be no deferred tax liabilities as much as possible. Of course, in order to allocate enough funds for these liabilities, an accountant must be able to calculate the deferred tax liabilities in advance.

As any other financial matter, the computation of the deferred tax liability for a company is really complicated as there are different income sources to be taken into consideration, as well as depreciating asset values and tax deductions. You first need to find the actual taxable income for your company, and then afterwards calculate the total tax liability from this. The formula goes as: Taxable Income x Tax Rate =Total Tax Liability. Obviously, you also need to have a complete and updated federal tax rate for your company to be able to compute it.

As the term itself implies, as long as a tax remains unpaid, it is still a liability. Surely, you are aware that there should be more assets in a company than liabilities in order to run smoothly, and the more liabilities it has, the more problems you are likely to encounter on your operation. Remember that when these liabilities pile up and the business fails to pay all of it, legal problems and litigation will be a major problem for you in the future. You would not want it, would you? And no company would want to stop its operation because of debts and legal problems. That’s why you should never keep liabilities for too long, or it would haunt you.

Many people when filing a PPI claim can’t decide whether to use a company or to file the claim themselves. There’s a lot of information you can find on the Internet, however, to save some time here are a few tips on how to find the right PPI check company.

Read a few reviews and feedback from customers about the company. This is the best way to find out more about the company from consumers that have had PPI claims handled by them. You can find out how they handle questions, concerns, and claims if they treat their customers in a courteous manner, and if they take time to explain the claims process to their customers. Check what the positive and negative reviews say about them.

The majority of PPI check companies never require an upfront payment however they do charge as much as 25% of an awarded claim. This is called the “No Win-No Fee”. Steer clear of any PPI check company that asks you for an upfront payment.

When search for a PPI company be sure to check if they are registered and authorized by the Ministry of Justice to handle your claim. All PPI companies must have an authorization number that allows them to legally handle PPI claims.

When you either call or visit a PPI company they will always ask you a series of questions to make sure you are eligible to file a PPI claim. If the company does not ask you any questions but guarantee a settlement they are not a legitimate company.

Keep in mind that you can file any PPI claim yourself without using a PPI check company. You can complete the necessary paperwork and get all the facts together to send to your financial institution. If necessary you can also file your claim with the Financial Services Ombudsman. An important fact to remember is that many banks will use tactics such as rejecting even denying your claim. They might also make a “FOB offer” with is usually less than what you are actually entitled to.

Paying for college is one of the biggest expenses in your life. Whether you are paying for your own education or for your children, the decision on how to pay can be almost as stressful as picking a school. Starting early is key. Having a full 18 years to save up for these costs is a huge advantage for several reasons. First, it allows you to invest a smaller monthly amount, which means you won’t feel the pinch as much. Second, it increases the cumulative effect of compounding interest, or the expanding growth rate of your earnings.

The most common way to save when starting very early is a 529 plan. It’s an investment plan operated by a state designed to help families save for future college costs. As long as the plan satisfies a few basic requirements, the federal tax law provides special tax benefits to you, the plan participant.

It’s up to each state to decide whether it will offer a 529 plan (or possibly more than one), and what it will look like. Every state now has at least one 529 plan available. 529 plans are usually categorized as either prepaid or savings, although some have elements of both. There are no income or age restrictions on 529 plans. Most plans operate on a monthly payment schedule that allows you to save significant amounts for college in a well-designed program. Contact your state education office to inquire about the 529 plan in your state.

So what if you don’t have a 529 plan and you need to pay now? Financial aid is an extremely helpful program that allows students to cover the cost of college, and additional costs such as housing, with a loan from the federal government. There are several types of loans and even some grants, which do not require repayment. The biggest advantage to student loans is that the interest rate can never go higher than 8 percent and is often even lower. Another advantage to financial aid is the extend time that you can pay back the loan through deferments and other options. One drawback to financial aid is the amount of money you make can influence how much aid is given. The more money you earn the less financial aid you are likely to receive. If you are interested in your financial aid options, you should contact the schools that interest you or FAFSA (Free Application for Federal Student Aid).

There are even more options for college. One is to get a private lender for necessary funds. These lenders can have much higher interest rates and a shorter payback time than financial aid, so shop carefully. Another type of aid is work-study where a student works part time on campus for money. One of the most obvious ways to get money for college is through scholarships. What is not so obvious is that there is a scholarship out there for everyone. Check with local businesses, national programs, and the plethora of internet sources to find one for you.

There are an endless amount of options when planning for college. And planning is key. You need to start early and keep your focus on the goal of education. However you pay for school, having the degree will be worth it. Planning ahead can get you the kind of education you want anywhere in the world.

Logbook loans refer to a form of credit, which requires borrowers to offer their vehicles to the lender against which they can secure the loan. The lender owns it until you repay the loan though you do get to use your vehicle during this period. The internet remains a virtual treasure trove of information as far as these loans are concerned. As a borrower, you should always consider acquainting yourself with the nuances of these loans so as to make an informed decision.

How do logbook loans work?

This is the first thing that you should find out about these loans in order to judge their suitability. Borrowers can usually get anything between £500 and £50,000, depending on the worth of the vehicle against which credit is secured. This form of financing is known as the logbook loan because you need to submit the “logbook” or registration document of your vehicle to your lender when you are looking forward to secure this loan.

The documents act as a proof of the fact that you are the registered owner of the vehicle.

The secured form of lending entails high APR (which mostly crosses 400%). If you are living in England or Wales, you will be required to sign a credit agreement and a “bill of sale”, which implies that the lender is now the owner of your vehicle but you are still entitled to use it provided you are successfully fulfilling the repayment requirements. However, the law in England and Wales only recognises the bill of sale when the lender is sagacious enough to register the same with the High Court. In case, this particular document is not registered, the lender must secure a court’s approval to repossess the vehicle against which the logbook loan is offered.

The borrowing requirement, however, changes if you are living in Scotland. In this country, the bill of sale is not really backed by legal sanction – meaning it is not really regarded as a document which is legally binding. There are separate credit arrangements for lenders and borrowers of logbook loans in Scotland. As a borrower you should be duly aware of the fact that consumer rights under the Consumer Credit Act 1974 will prevail if you are entering a “conditional sale” agreement or a hire-purchase agreement.

What is the total cost of these loans?

The logbook loans generally carry high APR (more than 400%) as has already been mentioned above. You will be charged interest rate per week. There are a few companies that pay the loan by cheque while there are others that offer instant credit. However, you need to be prepared to pay fees up to 4% of the loan for the same.

Please remember that you can even lose your vehicle if you fail to repay your loan. The vehicle will not be accepted unless you are able to furnish proof establishing you as the owner of the same. Do compare the rates of interest charged by several lenders before accessing the services of one of them.

When taking out a personal loan, you want the best terms and conditions for you. But sometimes they come with costs or conditions that people don’t always spot, or aren’t aware of in the first place. As a result, the loan costs them more.

No one wants to pay any more than they have to on a loan. Here are a few tips so that you don’t have to.

Read the terms and conditions
That may seem obvious, but sometimes people are in such a hurry that they don’t actually read the terms and conditions. It’s easy to overlook hidden costs – some of which you can opt out of – that you may have objected to if they’d read them.

This is especially important if you’re looking for a personal loan in a foreign country. If they’re not in English, have them translated. Then make you sure you read them. Once you sign on that dotted line, it’s too late.

Keeping the interest in your interest

A bank may advise you to choose a longer repayment term so that you can make your payment more manageable. The repayments will be smaller, true, but the bank will be earning more interest if you pay over a longer period, so keep the loan term as short as possible. This keeps the cost of your loan down.

Checking the rate of interest

Always check the interest rate on your loan. Is it fixed or variable? With a fixed rate, at you’ll know how much you must repay every month. A variable rate, on the other hand, is a double-edged sword: if the interest rate goes down, great; ifit goes up, it could put a squeeze on your finances.

Investigate the total cost

A lot of people use the annual percentage rate (APR) to calculate the cost of a loan, but sometimes the APR doesn’t tell the whole story. The total amount repayable can offer you a better picture, since it includes the interest and total costs from the start to the finish of the loan term. Check, though, whether this includes an arrangement fee.

Payback time

Of course, once you’ve taken out the loan you have to pay it back. There are several ways you can manage your money to do this. Here are some suggestions.

Go back to basics

Sometimes it’s good to tighten your belt. Make a list of all your expenses during the month. You’ll be surprised how much you spend that you could actually save. Cut out any unnecessary expenses. For instance, why buy a newspaper when you can read the news online? Why take the bus or car to work if you can walk there?

Find a part-time job

Don’t give up your day job, they say. And you shouldn’t when you’ve got a personal loan to pay back. Instead, take on a second job and allocate all of these earnings to the loan repayment. Once you’ve paid the loan back, you may even want to keep it on to make your finances easier in general.


When it comes to repaying your loan, the bank will always be interested in helping you. Don’t be shy about approaching your bank for advice on repaying the loan. They can help you organize a repayment schedule and also offer other hints and tips.

Taking out a personal loan is a big responsibility, one that shouldn’t be taken lightly. The devil is in the detail, as they say, so don’t make hasty decisions. Take time to study terms and conditions, interest rates, and costs. It’s in your interest – literally, sometimes.

For more financial information, you can visit the US Treasury website at